CNOOC Profit Jumps by 11% on Record Oil and Gas Production

CNOOC Profit Jumps by 11% on Record Oil and Gas Production

Chinese state-owned oil and gas giant CNOOC reported on Thursday an 11.4% rise in net profit for 2024, as record oil and gas production offset weaker energy commodity prices. CNOOC, which specializes in offshore oil and gas developments in China and internationally, booked a net profit of $19 billion (137.9 billion Chinese yuan) for 2024, up by 11.4% from a year earlier, as production hit another record high last year. CNOOC’s net oil and gas pr…

Cnooc Profit Rises on Increased Oil and Gas Drilling Output

Cnooc Ltd posted higher annual earnings and boosted its dividend.

Net income rose to 137.9 billion yuan (US$ 19 billion) in 2024 from 123.9 billion yuan the previous year